Dell Reports Mixed Q3 Results, Joins Marvell Technology, Super Micro Computer And Other Big Stocks Moving Lower In Friday's Pre-Market Session
Portfolio Pulse from Lisa Levin
Dell Technologies Inc. reported mixed Q3 results with earnings per share of $1.88, above the consensus estimate of $1.47, but revenue fell short at $22.25 billion against expectations of $23.00 billion. Dell's shares dropped 5.1% in pre-market trading. Other stocks also moved lower in pre-market sessions, including Incannex Healthcare, MorphoSys AG, Ferroglobe PLC, Marvell Technology, Super Micro Computer, and BioNTech SE, despite overall U.S. stock futures trading higher.
December 01, 2023 | 10:15 am
News sentiment analysis
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NEGATIVE IMPACT
BioNTech SE shares declined 3.2% in pre-market trading without a clear catalyst mentioned in the article.
The article does not provide specific reasons for the decline, but the drop indicates a negative short-term impact.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Dell Technologies reported higher-than-expected Q3 earnings but missed revenue forecasts, causing a 5.1% drop in pre-market trading.
Dell's stock is likely to face short-term pressure due to the revenue miss, which is a significant factor for investors, despite the earnings beat.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Ferroglobe PLC shares declined 6.7% in pre-market trading after an 8% increase on Thursday.
The decline in pre-market could be a reaction to the previous day's rise, indicating a short-term negative impact.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Incannex Healthcare's shares dropped 32.6% in pre-market trading after a significant gain of 85% on Thursday.
The sharp decline in pre-market trading could be a correction following Thursday's significant gain.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
MorphoSys AG shares fell 8.9% in pre-market trading after a 15% rise on Thursday.
The pre-market drop may be a pullback after the previous session's gains.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Marvell Technology shares dropped 4.8% in pre-market trading following the release of their third-quarter earnings results.
The pre-market decline suggests that investors may have had a negative reaction to the Q3 earnings report.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Super Micro Computer shares fell 3.4% in pre-market trading after pricing a public offering of common shares at $262 each.
The stock price is likely to be negatively impacted in the short term due to the dilutive effect of the public offering.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90